The Reserve Bank of India will conduct overnight variable rate repo auction for a notified amount of ₹ 250 billion today (February 10, 2016, Wednesday). The auction will be conducted between 12.00 noon and 12.30 p.m. as per the revised guidelines on Term Repo Auctions issued on February 13, 2014. Successful bidders will get the allotment at their respective bid rates. Bids at or below the repo rate will be rejected. The reversal of the overnight variable rate repo will take place on February 11, 2016 (Thursday).